Stephen K. Bannon and Katie and Danielle make the case for why they think Donald Trump poses an unacceptable risk to America and the world. They compare the current economic and political circumstances to those of 2016, and explain why they believe that a Trump presidency would be worse than a Hillary Clinton one.
00:00:00.160The big jobs, jobs, jobs report and the prophecy came true. Jobs light, 12,000, 12,000 in non-farm payroll.
00:00:10.660That is the lightest going back to December of 2020.
00:00:13.960So make the case against Donald Trump, in particular the comparison you make with 2016 and how the world is different now and how the American guardrails against him are different now.
00:00:26.000This is really a leader about Donald Trump and the unacceptable risk that we think he poses to America and the world.
00:00:34.300And the audience that we had in mind when we wrote this was our many readers who are Republicans.
00:00:38.560We have Republicans and Democrat readers and we didn't want this to be kind of a grand statement for the history books.
00:00:45.080We wanted to try and lay out to those readers that we have who are likely to vote for Donald Trump why we think that he poses a risk.
00:00:52.940And there are really three sets of reasons.
00:00:55.220And these are people who I think will have seen in the first Trump term that actually there was a lot of bombast and drama, but the economy did pretty well and he wasn't as catastrophic as people feared.
00:01:04.360So I think these are people who probably don't much like him as a person, don't see him as a role model for their kids, but do think that the risks around him may be wildly overblown.
00:01:13.820And in three broad areas, one, what Donald Trump is promising to do with the economy is way more radical than 2016 and way more dangerous.
00:01:22.160His tariff policy, his policy, his promise to deport millions of undocumented migrants, his reckless tax policy, all of these things we think from just a straight economic perspective are much more dangerous than people realize.
00:01:36.080Secondly, as Richard Haas just laid out to you, the world is much more dangerous.
00:01:40.680In 2016, the world was a pretty complicated place, but it was nothing like what we have now with two wars raging, with a lot of with a growing axis of evil or whatever you want to call it between Iran, North Korea, countries like that, Russia.
00:01:53.180This is a time when America needs its alliances.
00:01:57.260And actually, one of the great strengths of the Biden administration has been to rebuild alliances and relationships with countries around the world.
00:02:03.880And Donald Trump, if one thing we know about him is that he's unpredictable, the other is he has a total contempt for alliances.
00:02:10.640And then the third reason is that we think he would be much more unconstrained.
00:02:15.020And there is a real risk that he threatens America's institutions.
00:02:18.840In 2016, there were a lot of grownups around him.
00:02:21.480This is a well-known argument, but there were grownups in the room.
00:02:25.040This time, we think it is much more likely that it will be kind of toadies, chancers.
00:02:29.520He will not have the serious grownups.
00:02:31.680And when you have the former chairman of the Joint Chief of Staff who worked with him, his own chief of staff, calling him a fascist, when you have half his cabinet unwilling to support him, these are the kind of references that if you were hiring someone for a job, you would really think twice about hiring someone where you had those references of people who had worked closely with that person.
00:02:51.480So add all of that together, and we think it's just an unacceptable risk.
00:02:56.040Look, I hope if he is elected president that we will be wrong and that those risks don't come to pass.
00:03:01.080But I think the tail risk of a Trump presidency, hard to quantify, but it's just too big.
00:03:06.740And so I think Kamala Harris, she may not be great.
00:03:10.700I'd be delighted if she was, but she may well be a mediocre president, but she does not pose that catastrophic risk.
00:03:16.600This is the primal scream of a dying regime.
00:03:24.280Pray for our enemies, because we're going medieval on these people.
00:03:29.500You've just not got a free shot at all these networks lying about the people.
00:03:33.760The people have had a belly full of it.
00:04:48.640Trump campaign statement of Kamala's job loss of the jobs report is a catastrophe and definitively reveals how badly Kamala Harris broke our economy in a single month.
00:04:58.820Kamala's failed economic agenda wiped out nearly 30,000 private sector jobs and nearly 50,000 manufacturing jobs.
00:05:06.080So we have asked one of President Trump's senior financial advisors, Scott Bessent, to join us.
00:05:14.720Scott, first, let's take the jobs report.
00:05:17.220And then I know you've had a lot of interaction, as I have also, with The Economist.
00:05:35.900But one of the most moving scenes at the Republican convention in Milwaukee, I was watching Don Jr. interview your daughter, Mo.
00:05:46.280And I was sitting there thinking, this is, I'm looking at two children, one whose father is a political prisoner and one whose father survived an assassination attempt.
00:05:57.680And that it was quite a moment watching those two interact in Milwaukee.
00:06:10.920The economy is, I thought the economy is very fragile.
00:06:16.460Every job that has been created is government or government adjacent with this gigantic spending.
00:06:23.200And these numbers, you know, the Biden-Harris administration, they're going to blame them on the hurricane and the devastation in the Carolinas and Tennessee.
00:06:36.160And that's just wrong because we're seeing big revisions back to August.
00:06:42.040And private, small business has been suffering all year.
00:06:47.080Only big companies who are, you know, rent-seeking, government-adjacent have done well.
00:06:54.440And I think the chickens are coming home to roost here.
00:07:00.080And we got a glimpse of what more Biden-Harris is going to look like.
00:07:05.000They've tried to gun the economy into the election.
00:07:10.520And, you know, this couldn't be a worse number a few days out from the election.
00:07:17.740This has been one of your themes, too, that the massive federal spending and these huge deficits and now the 30, what, 37 trillion debt and the refinancing of that short term is generally any jobs they've had are really kind of ephemeral because they're government or government adjacent.
00:07:36.020J.D. and Trump are the two best in the world to make this argument.
00:07:39.140Do you believe in this next four days that the pivot and the focus should be on the strongest argument we have, which is the disastrous economy and the out-of-control invasion by illegal aliens or undocumented migrants, whatever you want to call them, sir?
00:07:59.820Yeah, look, and I've been at rallies with both of them, spoken extensively with both of them, and I had conversations that we have to reprivatize this economy.
00:08:16.500Because for all the spending for this gigantic Orwellian-named Inflation Reduction Act that we have created with $7 trillion of spending, there are 18,000 new manufacturing jobs, Steve.
00:08:32.56018,000, and I would argue that the government spending has actually hurt the job creation.
00:08:42.360We're in the biggest capital expenditure boom in the midst of this AI boom that we've seen since the dot-com boom and the tech boom in the 90s.
00:08:56.060So there is a private sector boom, and if we just leave it alone, let it grow, that the AI spending by big tech is in $300, $400, $500 billion, and that can drive the economy.
00:09:12.980Once we get the government out of the economy, then interest rates can come down, inflation can come down, and we can go back to what we had from 2016 to 2019.
00:09:29.820And this mass immigration, I have constantly talked about the bifurcated economy, and we've seen the Biden, the talking points about what Harris and Biden have done to Americans.
00:09:51.820When Kamala Harris says that she is going to focus on the middle class, there is no middle class left to focus on.
00:09:59.920The top 10% and 20% of Americans have never done so well.
00:10:04.020The bottom 50% is getting killed, that inflation, this unfettered immigration is pushing down their wages.
00:10:12.940And if you want to realize, over the summer, I was just struck by what kind of economy are these folks running in terms of the haves and the have-nots.
00:10:24.320There was a record number of Americans who took European vacations this year, and there are a record number of Americans using food banks.
00:10:33.420And that is at 4.1% unemployment, Steve.
00:11:10.060I'd encourage everyone to go and read it.
00:11:13.300And they—I was with the editorial board.
00:11:17.620It was kind of 10-on-1 about four weeks ago.
00:11:21.180And they don't understand, just like your opening line, that this is a dying regime.
00:11:27.900Well, the international trading system has become so contorted, so unfair since 1981 is when the U.S. started running these massive trade deficits.
00:11:40.400And you cannot say that the system is working when you end up with these imbalances.
00:11:46.760And they just want to keep running a broken system and kind of acquiesce to what's clearly not acceptable for workers all over the world.
00:12:57.520And when she was talking about the mass deportations, well, what about the mass importation and what that's done to working people?
00:13:08.260For the first time in my career, for decades, it was always said, oh, the one place supply and demand doesn't affect wages is the illegal immigration, doesn't push wages down.
00:13:26.820Now it's good for the inflation numbers.
00:13:43.400I think we could get 7%, 8% of the over 60 crowd back in the workforce.
00:13:49.500And, you know, I don't know where The Economist magazine has been, but there were no wars under Donald Trump.
00:13:56.320The world is a dangerous place because of Joe Biden and Kamala Harris, starting with the failed pullout in Afghanistan, starting with the Russian invasion of Ukraine because we lead with weakness, and the horrible events of October 7th.
00:14:13.500So, you know, I think Donald Trump, what's really underrated with Donald Trump will be the world will be back in a peaceful situation.
00:14:24.180We will not be careening toward World War III.
00:14:26.880And then finally, you know, I just think the deregulation that he's going to put through, you know, President Trump likes to talk about President McKinley.
00:15:01.980They now want to use the technology behind Bitcoin for their own Orwellian purposes, their gold to dominate our economy by forcing everyone to use central bank digital currencies, which they control.
00:15:14.380Imagine your every purchase being called into question, your every move tracked like you live in a communist country.
00:15:21.260This is not the America we want, but it is the America they want to create.
00:16:32.680Poso's in Pennsylvania to talk about that.
00:16:35.160But I got Scott Besson because this is this is the closing argument about the economy and geopolitics and the economists, which is obviously very opposed to kind of these populist, nationalist economic policies of President Trump.
00:16:47.640And as Scott Besson lays out, they were founded about 180 years ago.
00:16:53.220On the 175th anniversary of the magazine, Zandi sat down with me, I think, for almost an hour in a live kind of debate Q&A.
00:17:03.660It started as Q&A, but ended as a debate.
00:17:10.200And we obviously have very different policies.
00:17:12.820Proven trackers, President Trump's policies work.
00:17:17.060Scott, another thing before I let you go.
00:17:20.220And all I would like to see, I would like to see more of this out there in the closing argument this weekend because they can't run away and hide from the 46,000 manufacturing jobs lost.
00:17:28.560E.J.'s going to be here because E.J. and Tony told us years ago what they were doing on these phony job numbers.
00:17:34.180They go back and recast and guess what they've done, done it again.
00:17:37.240E.J.'s here to show you because we've really lost a million jobs.
00:17:41.960Anytime they talk about a job, it's a government or government adjacent job because of the massive federal spending.
00:17:47.820Scott, there's also something else very worrying.
00:17:50.180You brought to my attention the Bloomberg story on the end of the dollar empire, the dollar as a prime reserve currency.
00:17:57.260Can you give me a brief summary of that and why we should be concerned?
00:18:01.020Well, there's a Bloomberg story that's saying that election – well, there's the headline – election violence risk threatens U.S. dollar dominance.
00:18:13.920And I've been in touch with my friends at Bloomberg.
00:18:16.380And look, I think Bloomberg, Wall Street Journal, even The Economist are the publications that should be asking the Democrats, will they accept the results of the election?
00:18:29.840Because I tell you, my worry on the violence – I haven't seen Jamie Harrison, head of the DNC.
00:18:38.700I haven't seen Mark Elias say that they are going to accept these election results.
00:18:44.220I haven't seen President Biden call for peace on the streets.
00:18:48.060He's actually – they have said – he thinks that it could get unruly.
00:18:52.260So I think that those center-left or center-right publications need to get definitive statements from the Democratic leaders that they will not do this because that article quotes Bob Rubin and another group of people who think that it will be our side.
00:19:14.420And, well, first of all, I think there's a very good chance we're going to have the trifecta.
00:19:19.140And if I read The New York Times, The Washington Post or watch The Twaddle on CNN or MSNBC, I am going to have a psychotic break when Donald Trump wins and there's a Republican sweep because I've been fed so much misinformation that I don't know how people are going to react.
00:19:40.400But I want a definitive statement from their leadership because they will be the ones who hurt the dollar.
00:19:50.040Scott, where do people get you on social media and track you particularly the next four or five days?
00:20:46.900Well, Steve, first off, great to see you.
00:20:49.180And I join everyone in saying thank God for your safe return.
00:20:52.360In terms of this jobs report, it's very ugly.
00:20:56.060And it's not just the headline was a big disappointment, but the internals are, frankly, horrific here.
00:21:01.100I mean, a lot of people are saying about, are talking about the hurricanes and the strikes.
00:21:06.140And they're saying, no, that was the reason for such a disappointing jobs number.
00:21:09.700That's a big reason for manufacturing coming down.
00:21:12.100But that doesn't explain the point that Scott just made, which is why do we continue to see previous months have such big downward revisions?
00:21:19.980In fact, if you calculate not just the very poor showing in terms of jobs added, but then you add in the downward revisions, this was actually a net loss of jobs of 100,000.
00:21:30.940So the idea that the labor market is healthier or has some kind of robust growth rate, I'm sorry, but that's just all absolute nonsense.
00:21:38.180The other really important thing here is that the other survey in this report, which is a survey of households, not just a survey of businesses that counts jobs, but the survey of households counts how many people are employed, how many people have those jobs.
00:21:50.940And what that shows is a huge drop of over 300,000 for the month.
00:21:55.280Now, the reason that's important is because that survey still counts people as employed, even if they are temporarily not working because of things like strikes.
00:22:05.100And so the idea that somehow the hurricanes and the strikes are the cause for the disappointing jobs numbers, I'm sorry, that just doesn't even pass the smell test, because even the data that includes those people as employed still shows a big drop on the month.
00:22:19.240So you add up all of these different declines, and you include the downward revisions, and all of a sudden you get a picture where in a 12-month period we're losing a million jobs at a time.
00:22:30.640And sure enough, that's what we see in the full-time data right now.
00:22:34.020We've lost just over a million full-time jobs in the last year.
00:22:38.480So literally all of the net job growth that we have been seeing in this economy has all been part-time jobs.
00:22:44.400We are seeing people lose good-paying full-time jobs with benefits in things like the manufacturing industry, and they're having to pick up multiple part-time jobs in things like the leisure and hospitality industry.
00:22:55.260Now, that's not to knock people who work in those industries.
00:22:57.560It's simply to point out that people are increasingly having to get multiple part-time jobs that typically don't pay very well and typically don't have benefits to try to make ends meet because they're all losing their good-paying full-time jobs.
00:23:53.660They're trying to prime their supporters to expect to win and suggest that the only way that they could lose would be if it was stolen, if things were rigged, if the election wasn't fair.
00:24:02.320Which is going to preview not just court cases were Trump to lose next week, but potentially many law enforcement officials fear the violence.
00:24:11.420But, Jonathan, you have Donald Trump's own people.
00:24:14.920You even have people like Charlie Kirk freaking out now telling the truth.
00:24:18.920saying the numbers are looking terrible in Pennsylvania, that right now Trump is on his way to losing.
00:24:26.580I think it's a Politico story that was showing what Kirk and others were saying because early voting, according to them and many others, not going their way.
00:24:36.640Women are going out and they are voting and two things are happening at once.
00:24:44.700The Harris campaign is getting more confident by the day that things are breaking their way in the blue wall states.
00:24:51.940And the Trump campaign has two things happening.
00:24:57.700And you know things are going well in Pennsylvania for Harris because he's starting to claim that, oh, my gosh, they're trying to steal the vote from me.
00:25:08.260And on the other hand, Charlie Kirk and other people attached to the Trump campaign, are big supporters of the Trump campaign, are literally freaking out, saying publicly, we're going to lose if the voting patterns continue this way.
00:25:22.420Yeah, you're seeing a false confidence being put.
00:26:03.580I don't know if Joe Scarborough is as familiar with Pennsylvania as he is with being familiar of, you know, kissing the boots of Kamala Harris and every Democrat that walks across his stage.
00:26:16.580But in the state of Pennsylvania, this is pretty typical for what we see in early voting, particularly in mail-in voting.
00:26:24.260Remember, by law, Pennsylvania does not have early voting.
00:26:28.920What we've done this year, what Josh Shapiro has set up this year was this sort of de facto scheme of allowing people to early vote in person by mail, where being you go in, you go get an absentee ballot, you request you turn it back in person.
00:27:29.560And that's the delta between R's and D's because we put it up with turning point action with the P.A. Chase and Scott Pressler's early vote action.
00:28:25.060And Patriot Mobile offers dependable nationwide coverage, giving you the ability to access all three major networks, which means you get the same coverage you've been accustomed to, but without funding the progressive left.
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00:34:44.040If we can take away their buckets, if we can take away the places where they would normally generate votes in these counties across Pennsylvania, then we can win this thing.
00:34:54.640And then the very last piece of that, of course, as we were just saying before the break, three million – just as PA.
00:35:16.620And go film videos if they try to send the cops out at you, and we'll be in touch with the little governor, Josh Shapiro.
00:35:21.960But the mass mobilization must take place 7 a.m. to 8 p.m. in the state of Pennsylvania on Tuesday, 5th of November.
00:35:31.040You need to be out there manning the polls, and if you've already voted, and if you're a member of the war room posse and you've already voted, you've taken care of that, then you need to be whipping up all the people in your family chat, in your neighborhood, in your communities, in your Knights of Columbus group, in your school groups, whatever it is.
00:36:10.820Look, you asked the question as to why Morning Joe felt the ability to spin Charlie Kirk's tweets about getting more people out there and things like that.
00:36:20.460And look, it comes down to a lot of how the data is coming out right now, a lot of what we expect, a lot of what the graphs are showing us.
00:36:27.560And one of the – I mean, unfortunately, one of the best sources for this at the moment comes from NBC News.
00:36:33.240So you have to take it with a massive lump of salt.
00:36:37.780But what they're telling us, what the data shows us as far as their voter file data that's coming out is that in Pennsylvania, they claim about double the number of female Democrats.
00:36:51.500New voters specifically are voting than, say, female Republicans.
00:36:56.260The numbers amongst men are pretty much the same, about ticking even between male Democrats and male Republicans.
00:37:07.320The numbers, however, flip completely on their head when you go to a state like Arizona.
00:37:12.460What they're showing us in Arizona is that male Republicans are outstripping male Democrats by about two to one and that the female numbers are in about parity.
00:37:23.160That does make the case that obviously there is a lot of work to do in Pennsylvania.
00:37:28.180You can make the case and you can break it down even further by age bracket that shows us actually that it's mostly older voters who are coming out and voting early.
00:37:39.000That leaves a huge chunk of, say, under 40-year-old voters who are either going to be on-the-day voters or simply not showing up at all.
00:37:48.280The Democrats will have to do a lot of work to get especially the 18 to 24 bracket out, which is really not represented at all in this early voting data that we see from NBC's election desk.
00:38:02.300So, you know, you can spin it pretty much either way.
00:38:04.960Republicans will obviously say, look, our voter base is typically on the day.
00:38:10.060We have made some inroads into early voting.
00:38:12.160We've definitely made more inroads into new voters.
00:38:14.960And those two figures are critical, by the way, because if you were entering 2020, you would nowhere near see the numbers of early Republican voters.
00:38:23.660You would nowhere near see the numbers of new Republican voters that you're seeing right now.
00:38:55.600Because, as I say, it's not compelling enough.
00:39:00.520The gap is not compelling enough to make me go and panic right now.
00:39:04.460You expect this kind, especially with the kind of the Taylor Swift backing and all of that, you expect a level of new female Democrat voters.
00:39:16.400It will already be built into the Trump campaign's equation of how this is going to go.
00:39:20.940What you need here, however, is an on-the-day stubbornness and on-the-day, you know, if there's an issue at a polling station, Republican voters need to be told, do not get out of line, no way, no how, even if they tell you to.
00:39:39.720Because those are the sorts of things that will take place, mark my words, you're going to have hour, two-hour, three-hour long lines, electricity will go down, water pipes will burst.
00:39:49.180You know, poll workers will say things that are fundamentally incorrect about when people can come in, how long they can spend in there, what they can wear in there, all that kind of thing.
00:39:58.060That on-the-day vote is going to be critical.
00:40:00.840And if, you know, even a couple of dozen in counties across Pennsylvania, Republican voters are somehow turned away or discouraged or bored or whatever it is, then you're looking at a hiding to defeat.
00:40:14.040Right now, with these numbers, this doesn't tell me that there's a firewall for the Democrats that's insurmountable.
00:40:22.980Oposo, they failed to build their firewall.
00:41:35.940That's something that the war room posse should do.
00:41:38.320Pick precincts, work with Trump Force 47 on this and set up stations.
00:41:42.860Set up stations, war room posse stations at targeted precincts where you know there's going to be a lot of red or, you know, you just want to be out there to help out.
00:43:14.920We've got the great Johnny Kahn, Dinesh D'Souza, all next.
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00:43:36.520Now, Jim Rickards, editor of the independent financial newsletter Strategic Intelligence and New York Times bestselling author,
00:43:44.460is warning about a coming event that could elevate this governmental surveillance to a terrifying new level.
00:43:50.580In fact, some of the guests I've had on the war room believe that the government will soon expand their powers to track our every move.
00:43:57.980If we say the wrong things on social media, donate to the wrong causes, buy firearms, or even vote MAGA,
00:44:05.000the government may be able to shut us out of our bank accounts.
00:44:09.000I can't say for sure if this will happen, but it's an interesting and dire warning.
00:44:14.540Fortunately, Jim Rickards, an American patriot and friend of mine, has made it his mission to educate us on what he believes is coming
00:44:21.260and how to protect yourself from the possibility of programmable money.
00:44:26.860Watch Jim's warning video now, before it's censored like I've been in the past.
00:45:17.780I see MAGA people, you know, being called garbage, working-class people being called Nazis, being called fascists by the violent political rhetoric of the left.
00:45:28.400And they're just out there doing their jobs.
00:45:30.080And you see from this jobs number, this is the lies, the media tell you.
00:45:33.340The math comes out in the jobs numbers.
00:45:34.900You see the manufacturing jobs going away.
00:45:48.760It's really the economist makes the argument of why you need to stick with President Trump because of the geopolitical situation and the economy.
00:45:58.840Monica Crowley, you were a comms director, a senior-level position at the Treasury Department.
00:46:04.520Your take on this jobs, the recasting of these jobs numbers, the lies that the government's telling you.
00:46:10.560Yeah, great to be with you today, Steve.
00:46:12.700This is an absolutely disastrous jobs report, cataclysmic on so many levels, but not a surprise because Biden-Harris economy has sucked from the very beginning.
00:46:24.160But what we see here is that only a measly 12,000 jobs were added last month.
00:47:10.240What they are doing is manipulating these numbers, and they've been doing it from the very start.
00:47:16.320I can tell you, having spent two years at Treasury, the official numbers coming out of any administration from the Bureau of Labor Statistics, wherever you're getting jobs numbers, GDP numbers, those numbers are considered sacrosanct.
00:47:32.160The numbers are delivered the night before only to a handful of people, namely the President of the United States, the Vice President, and the Treasury Secretary.
00:47:42.140Those are the only individuals who actually see the official numbers the day before the public sees them.
00:48:04.440What this administration has done is deliberately manipulate these numbers, knowingly so, to get an initial headline, the day of the numbers, so it's a positive headline.
00:49:38.780But you're getting a brand new free MRSAT ISAT phone, too, with a free Faraday bulletproof backpack.
00:49:47.340And that's over $1,000 in savings, Steve.
00:49:49.940And that will make sure that you are able to stay connected no matter what happens over the next week and going forward.
00:49:56.700This year, we've seen six major cell phone outages across the country and around the world, as well as the hurricanes, which left people without cell phone service for days, weeks, and even months in some cases.
00:50:09.360So satellite phones keep you safe at sat123.com forward slash Bannon.
00:50:14.440Or give us a call, Steve, at 941-841-0844.